The information resource for Luxury Oceanfront Condominiums and Homes in Miami, Sunny Isles, Bal Harbour, Fort Lauderdale, Boca Raton and Palm Beach. (954) 632 3266

What can you buy for $1 million if you were looking for an oceanfront condo in Miami or Fort Lauderdale?  You can get a lot more for your money than you could have a year ago!  Over the past year, with the current market situation, we have certainly seen price reductions.   

Here is what you can buy for $1 million if you were looking for an oceanfront condo in Miami and in Fort Lauderdale:

Miami

The Bath Club- 5959 Collins Avenue

Asking Price $1,017,000

Price Per Sq.Ft.  $534

1,904 Square Feet under air

2 bedrooms 2 baths

VIews of the ocean, bay and city

The Bath Club was built in 2005 and has a total of 107 units.  Currently there are 21 units on the market out of 107 units. In the current market, 19% of units for sale.  Prices range from $485 square foot to over $1300 square foot for the penthouse. This unit was originally listed for $1,675,000.

The Mosaic- 3801 Collins Ave

Asking Price $999,900

Price Per Sq. Ft: $663

1,507 Square Feet under air

3 bedrooms 3 baths

Views of the ocean, bay and city

The Mosaic was built in 2006 and has a total of just 91 units.  Currently there are 27 units on the market, 32% of the building.  Prices offered in this bulding range from $484 sq.ft. to over $1400 per sq. ft. Original list price $1,150,000

Canyon Ranch-6801 Collins Ave.

Asking Price $1,095,000

Price Per Sq.Ft. $901

1,215 Square Feet under air

2 bedrooms 2 baths

Direct ocean east views

Canyon Ranch Living has 3 towers North, South and the center, Carillon.  We have several listings in this building and it is one of my favorite projects in South Florida.  As we have writen before, Canyon Ranch offers a complete lifestyle, so much more than just an oceanfront condo with amenities.  The 70,000 sq ft. spa will be opening soon and closings are still under way.  Original list price $1,199,000

Fort Lauderdale

L’Ambiance-4240 Galt Ocean Drive 

Asking Price $1,049,000

Price Per Sq.Ft. $456

2,318 Square Feet under air

3 bedrooms 2 and one half baths

Direct ocean views

L’Ambiance was built in 2003 and is very well established building.  There are only 13 units on the market out of 124, 10%.   This unit was priced at one point at $1,449,000.  Prices int his building run from $462 sq.ft. to $842 sq. ft. Original list price $1,449,000.

Aquazul- 1600 S. Ocean Drive- Lauderdale by the Sea

Asking Price $999,000

Price Per Sq.Ft. $388

2,572 Square Feet under air

3 bedrooms 4 and one half baths

Flow through unit with east and west views

The Aquazul has total of 80 units and there are only 8 units on the market.  The floor plans are very spacious and flow through with wonderful views east and west.  Prices in this building range from$388 sq.ft. to $615 sq.ft.  Original list price $1,400,000.

Las Olas Beach Club- 101 S. Ft. Lauderdale Beach

Asking Price $1,079,000

Price Per Sq.Ft. $454

2,372 Square Feet under air

3 bedrooms 3 baths

Direct ocean views with a flow through floor plan offering west views as well

Las Olas Beach Club was built in 2007 and has a total of 148 units.  Currently there are 42 units on the market, 28%.  Prices range from $393 sq.ft. to $1134 sq.ft. Las Olas Beach club is located in Fort Lauderdale. The building sits across the street from the ocean.  Original list price $1,159,000.

We receive a constant stream of phone calls from buyers from all over the world that are interested in purchasing oceanfront condos. There are buyers who are seizing the moment so to speak, and stepping in to take advantage of the great opportunities out there right now.

Are there opportunities? You bet there are and I have been in situations, where once we identified a great unit at a great price, other buyers were also putting offers in on the same units.

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There are varying degrees of motivation by sellers in all price ranges. There are some units in building less than 2 years old that the original developer still owns that now are very motivated to sell. There are units that are being sold by investors that are several hundred thousand dollars less than what they paid for it. Each situation is different but the opportunities are there. The units that are available under these circumstances include the most desirable oceanfront floor plans in premier buildings.

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All I can say is that if there is a desire to own an oceanfront condo in South Florida, at this point in time, you can get the best of the best at deeply discounted prices. When the media says…”We are now at the bottom and the market is going to turn around”… the best units in the A rated luxury buildings will be long gone!!!

Here is a new installment of “what can you buy for $1 Million?”.

I have selected one condo in Lauderdale by the Sea, one in Miami Beach and one condo in South Beach. The Aquazul in Lauderdale by the Sea is being offered for $425 square foot. The Blue Diamond in Miami Beach is being offered for $692 square foot. The Continuum in South Beach is being offered for $874 a square foot. South Beach is one of the most expensive beachfront locations in South Florida, with many listings offered at well over $1000 a square foot.

Aquazul- Lauderdale-by-the- Sea

1600 S. Ocean Blvd. Lauderdale-by-the-Sea, Florida

Asking Price: $1,095,000

Price per Square Foot: $426

2572 sq.ft. under air, 3152 sq.ft. with balconies

3 bedrooms 4.5 bathrooms

Direct ocean views as well as west views

Direct ocean views from this large 2 bedroom 2 bath plus den residence. Floor to ceiling hurricane glass, private foyer, east and west balconies. Gourmet kitchen.

This residence was introduced on the market in January 2007 at an asking price of $1,400,000. It has had several price reductions and was offered for rent as well.

This unique building consists of 24 stories with only 79 residences. The building design is such that there are only 4 units per floor each served by private elevators. Aquazul is a full service building which includes a fitness center, tennis courts, clubroom, oceanfront pool, cabanas and 24 hour concierge and valet service. The location of this property is between Commercial and Atlantic directly on the ocean.

Blue Diamond Miami Beach

4779 Collins Ave, Miami Beach, Florida

Asking Price: $1,060,000

2 bedrooms 2 baths plus a den

Price per Square Foot: $693

1530 sq.ft. under air

Direct Oceanviews

Direct ocean views from this large 2 bedroom 2 bath plus den residence. All rooms leading to a large terrace overlooking the Atlantic Ocean. Floor to ceiling windows and sliding doors. Split floor plan. Spacious master suite with ocean views. Marble floors through out.

This unit has been on the market for about a year and has not had any price reductions.

This beach front building offers 16,000 square feet of amenities, including his and her saunas and steam rooms, two whirlpools and the newest in exercise and fitness equipment

Continuum On South Beach

100 S. Pointe Drive, Miami Beach, Florida

Asking Price: $1,050,000

one bedroom one and a half baths

Price per Square Foot: $875

1201 sq.ft. under air

Views of Fisher Island, Cruise Ship Passageway called Government Cut and Downtown Miami

This unit was initially offered on the market in June 2007 at $1,250,000.

This is one of the most sought after buildings in South Beach. This is a one bedroom one and a half bath with a private elevator foyer. It has 10 foot ceilings and stunning views of Government Cut, Fisher Island and Downtown Miami. Open kitchen with granite counter tops, Subzero & Miele appliances. Italian Saturnia marble throughout.

Amenities include 24 hour security and valet, private beach club, lagoon and lap pool, concierge service, 3 tennis courts, and a 25,000 square foot gym and world class spa.

To give our readership a better insight into newly constructed Fort Lauderdale oceanfront condos, we are providing you below with statistical data on 6 new oceanfront buildings in Fort Lauderdale; The Aquazul, Beach Club, Diplomat, Europa, Las Olas Beach Club and Ocean Palms. When we reference Fort Lauderdale we are including cities that fall within Fort Lauderdale, including Lauderdale by the Sea, Hallandale, Hollywood and Fort Lauderdale Beach.

Each one of the buildings highlighted has been completed within the last 2 years. This data will show you the average list price and average closed sales per square foot. Each oceanfront condo has its own unique qualities and characteristics. One of the most apparent factors is the building size. Below is a chart comparing the total number of units in each of the buildings we have selected.

We selected these 6 buildings as good indicators of the new higher end oceanfront condos. We will be providing additional data on these and other properties in the coming weeks.

The data was based on information from the Southeast Florida Regional (SEFR) MLS. Best effort was made for accuracy however; when certain data required was incomplete estimations were made.

This unique building consists of 24 stories with only 79 residences.  The building design is such that there are only 4 units per floor each served by private elevators.   Aquazul is a  full service building which includes a fitness center, tennis courts, clubroom, oceanfront pool, cabanas and 24 hour concierge and valet service.

I like the fact that the building has only 13 units on the market out of the 79, only 16%.   Of the 13 units on the market the average asking price runs around $551 sq.ft.

There has been many sales in this building since its completion in 2005  with the highest unit sold in 2005 at the asking price of $2.3 million and included a cabana. In 2007, there was a high reported sale of $1,640,000, $523 a square foot.

The location of this property is between Commercial and Atlantic directly on the ocean.   

There is 2-story townhouse-style condo on the 3rd floor with unobstructed ocean views, with a motivated seller.   Click here to take a look at this elegant residence.